PJSC Inter RAO and its wholly owned subsidiary Inter RAO Capital signed agreements for sale of 40.29% of PJSC Irkutskenergo shares owned by them. The buyer is Telmamskaya HEP, a subsidiary of JSC EuroSibEnergo.

The transaction amount is RUB 70 billion rubles. The payment will be made by money transfer.

The transaction will be closed after each party obtains required corporate approvals - from the Board of Directors of PJSC Inter RAO and the only participant of LLC Telmamskaya HEP.

'Inter RAO Group completed implementation of the program for disposition of minority interests,' said Chairman of the Management Board of PJSC Inter RAO Boris Kovalchuk. 'As a result, the Group's revenue from selling of minority interests amounted to more than RUB 120 billion rubles. These funds were allocated both for implementation of a large-scale investment program for construction and upgrading of generating assets in Russia and for development of the power supply segment.'

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Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business. The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates 33 GW of installed power generation capacity.www.interrao.ru


OAO INTER RAO UES published this content on 16 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 May 2016 06:47:08 UTC.

Original documenthttp://www.interrao.ru/en/news/company/?ELEMENT_ID=6279

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